A first for the European Commission: Five pharma companies fined $14M for API price fixing
20 Oct 2023
The European Commission on Thursday announced a first for its regulation of the pharma industry: It’s fining five pharma companies — Alkaloids of Australia, Alkaloids Corporation, Boehringer Ingelheim, Linnea and Transo-Pharm — €13.4 million ($14.2 million) for colluding to fix the price of a pharmaceutical ingredient used in a drug to treat stomach cramps.
The Commission said its investigation revealed that six companies — the sixth company C2 Pharma revealed the price fixing to the Commission and was not fined — coordinated and agreed to fix the minimum sales price of the ingredient, known as N-butylbromide scopolamine/hyoscine, which is commonly used in the antispasmodic drug Buscopan as well as in its generic versions. The ingredients were shipped to customers such as distributors and generic drugmakers, and the companies collaborated to allocate quotas.
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